Shoe Carnival, Inc. (SCVL) reported fourth quarter net income and EPS on a GAAP basis of $21.6 million and $0.79. For the fourth quarter of prior year, net income and EPS were at $20.6 million, and $0.72, respectively. Excluding the Shoe Station acquisition-related charges incurred in fourth quarter 2021, fourth quarter 2021 adjusted net income and adjusted EPS were $23.8 million and $0.83, respectively.
On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter net sales were $290.8 million, decreased 7.2%, compared to a stimulus-elevated fourth quarter 2021. Analysts on average had estimated $309.59 million in revenue.
For fiscal 2023, the company expects: EPS of $3.96 to $4.20; and net sales of $1.26 billion to $1.32 billion. Comparable store sales are projected to be in between a decline of 2% and growth of 2%. The annual guidance includes the expectation of a mid-single digit decline in net sales in first quarter 2023.
The Board of Directors approved an 11 percent increase to the quarterly cash
dividend to $0.10 per share from $0.09. The quarterly cash dividend will be paid on April 17, 2023 to shareholders of record as of the close of business on April 3, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News